HUGO BOSS AG: HUGO BOSS announces preliminary third quarter results and adjusts its full year 2019 outlook
October 10, 2019 at 12:30 pm EDT
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DGAP-Ad-hoc: HUGO BOSS AG / Key word(s): Change in Forecast/Profit Warning
HUGO BOSS AG: HUGO BOSS announces preliminary third quarter results and adjusts its full year 2019 outlook
10-Oct-2019 / 18:25 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Ad-hoc Announcement
HUGO BOSS announces preliminary third quarter results and adjusts its full year 2019 outlook
Metzingen, October 10, 2019. The management of HUGO BOSS AG updates its outlook for full year 2019. In doing so, HUGO BOSS takes account of the persistent macroeconomic uncertainties that increasingly weigh on consumer demand. In particular, in North America, the market environment further deteriorated during the third quarter, hence weighing on the Group's sales and earnings development. In addition, business in Hong Kong has been substantially negatively affected since the beginning of the political unrest and demonstrations.
On a preliminary basis, currency-adjusted Group sales in the third quarter remained on the prior-year level. This represents an increase of 1% in the reporting currency to EUR 720 million. Group-wide retail sales increased 3% in total and 2% on a comp store basis, both adjusted for currency effects. Operating profit (EBIT, defined as group earnings before taxes less financial result) in the third quarter amounted to EUR 80 million on a preliminary basis (excluding the effects of IFRS 16; prior year: EUR 92 million), and thus below expectations.
Against this background, HUGO BOSS adjusts its financial outlook for the current year. Management now expects currency-adjusted Group sales for the full year 2019 to increase at a low single-digit percentage rate (previously: expectation of an increase at the lower end of a mid-single-digit percentage range). At the same time, HUGO BOSS now expects to generate an operating profit (EBIT) of between EUR 330 million and EUR 340 million for the full year (excluding the effects of IFRS 16; prior year: EUR 347 million). Management's previous outlook provided for an increase in EBIT at the lower end of a high single-digit percentage range.
The Managing Board
10-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
HUGO BOSS AG
Dieselstraße 12
72555 Metzingen
Germany
Phone:
+49 (0)712 394-0
Fax:
+49 (0)712 394-80259
E-mail:
info@hugoboss.com
Internet:
www.hugoboss.com
ISIN:
DE000A1PHFF7
WKN:
A1PHFF
Indices:
MDAX
Listed:
Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange
Hugo Boss AG is a Germany-based developer and marketer of men's and women's clothing and accessories for the international fashion market. Its product portfolio comprises apparel, eveningwear and sportswear, as well as shoes and leather accessories, licensed fragrances, eyewear, watches, childrenâs fashion, home textiles and writing instruments. The Company's brand portfolio comprises BOSS, BOSS Orange, BOSS Green and HUGO: BOSS comprises business wear, leisurewear and evening apparel, as well as watches, eyewear and fragrances produced under license; BOSS Orange focuses on urban casual wear; BOSS Green comprises sportswear and HUGO provides apparel for both business and leisure, as well as shoes, accessories and licensed fragrances.
HUGO BOSS AG 
